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. the u.s. energy complex could take a hit from hurricane sandy. we'll have an update on that shortly. but first let's take a look at european markets. though we started to open slightly higher today, losses are accumulating. ibex 35 over in spain shedding about 0.4%. we want to know your hurricane stories. you can e-mail our tweet us. joining us now is stewart hitch arrested son, rmg wealth management. good morning. your initial thoughts here as we look at the impact of sandy barreling down on new york. we know a lot of trading is shut down. are people routing trades through london? >> you can try to separate the fundamentals from liquidity. fundamentals won'ten drastically changed in the medium term, but if markets get through calmly and people don't panic, we'll be back at the end of the week. if there is panic, liquidity could dry up and could be a crazy couple of days. >> liquidity issue is actually an important one. we've seen others sort of recommend clients steer clear of markets for a couple of days. what's interesting, that will just exasser balt the issue understandably say
of expansion of energy which is the reason why we're having such a tough time recovering. michelle just made the point before about this aging infrastructure that we have. we haven't rebuilt it not because we don't have the money to do it. we haven't rebuilt it because all these groups oppose every single thing you want to do. if you want to build a new generator, they oppose that. if you want to build new transition lines, they opposes that. god to bid you should built a new nuclear power plant. >> but that's what bloomy is saying. when he goes down this road of global warming, and he also mentioned cap and trade, he is saying we'll put limits on the volume of energy. all energy. including, you know, the new fracking centering for natural ga energy for natural gas. it's anti-growth. and new york city doesn't need anti-growth policies. >> we're always at the breaking point for energy. i belt ten new generators. i had to push to do it by the new york you power authority. this is not just true of new york, it's true all throughout america. we operate at the limit. some of that is economics bec
of the world needs a broader that's why we're supplying natural gas to generate cleaner electricity... that has around 50% fewer co2 emissions than coal. and it's also why, with our partner in brazil, shell is producing ethanol - a biofuel made from renewable sugarcane. >>a minute, mom! let's broaden the world's energy mix. let's go. check for more! well, i guess i can double check... my watch! [ male announcer ] it pays to double check, with state farm. [ tires screech ] >> narrator: in 2007, kevin dixon and patience isaacs hit banks across montana as part of a multi-million dollar cash-advance scheme. dixon, seen here in what appears to be a cellphone video, drives along flaunting wads of cash. half the money is going back to the scheme's accused masterminds, charles barksdale and neisha jackson, according to fbi assistant special agent in charge, robert lasky. >> ms. jackson would be the brains or the technical expertise. he was the one running the overall organization. he was the one who would enforce it. because mr. barksdale had what they call "street cred," most o
on energy today. weaker prices taking their toll on shell. posting a 15% drop in its third quarter profit following a fall in prices. result below analyst expectations. if x. on mobile expected to report a fall in its profit today. revenues expected to contract by around 9:00. 9%. and from the energy companies to the gas pumps. >> shortage caused by hurricane sandy is causing lines in some cases miles long. joining us for monday is jonathan citron. thanks for calling in. you follow energy markets quite a bit. how long and how likely are the shortages to persist? >> i think we'll see the shortage persist for a short period of time. they're doing all they can to alleviate not only the damage, but it's all about getting the power back on. we need to get the glass to the pumps and the pumps working. so i think it's a matter of days rather than the weeks. the damage is far worse than anything that anyone ever imagined. but i think we'll start to see probably by the end of the weekend, early next week, things to start to pick up very slowly but pick up. and i think the long term implications wi
energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. >>> we're back this morning. northeast residents bracing for the arrival of hurricane sandy and cnbc's brian shactman joins us now from montauk. i was worried about people surfing. i saw a picture of a surfer late yesterday and got nervous about that. >> reporter: i just talked to a local offici
in a relative hurricane drought, connecting energy, policy and disasters make little scientific sense. even the ipcc in its latest report would never -- you know, they act like scientists occasionally even though most climate science is junk science, they even would never tie an event ike this to climate change. here's the thing that i pointed out to you, andrew, the last category 3 hurricane was wilma, that was seven years ago. this is the longest period in a century in terms of how long we've been between category 3. back in 1954, between august '54 and august of 1955, the east coast saw three different storms make landfall each of which caused twice as much damage as sandy. now you weren't born in 1954. it caused twice as much. here's the chart of the average global temperature and this quietly was reported by the uk climate office. that shows the average variability from 14 degrees celsius which is the average. there's the no discernible rise in 16 years. >> cuomo's point he was trying to stay out of the controversial subject. he said the political ban derte doesn't want to get to. his
'll see energy prices drop. that might be a buying opportunity at that point. other than that, i really believe we have to just take a look and see attitude right now. >> well, one of our guests, a regular on this program, had a great idea. he said to me, maybe for one month the fed instead of putting that $40 billion of mortgage-backed securities buying, put that on hold and send it to some of the ravaged areas like staten island, like new jersey. >> i love it. i absolutely love that idea. >> i do too. >> then the fed's crossing the line into fiscal policy and out of the realm of monetary policy. >> where are we going to get it? >> fema responds rather adroitly to -- katrina notwithstanding, to these disasters. i suspect they're going to be quite responsive right now for those who have been displaced, who have lost family members, who don't have homes. i think there will be a rapid response from the federal government. >> i'm just saying, we could use that money in other areas right now. not necessarily the bond buying program. just an observation. >> maria, i got say, i don't know if
on the east coast -- philadelphia energy solutions, they are running at a reduced capacity. all of this giving a lift to the price of gasoline on the futures market. as you might expect, investors and traders are anticipating tighter supplies but keep in mind, that is offset by a decrease in demand as investors stay home -- or i should say, drivers stay home in an area that accounts for about 2 million barrels per day of gasoline demand. now, there's another part of the equation. that being the pipelines that helped to bring in the extra gasoline that's needed along the east coast. colonial pipeline, one of the largest, says it is right now looking at contingency plans to shut down in the event its customers, the refiners and some of the terminal operators, either reach capacity or shut down themselves. and at that point they say they might consider shutting down the pipeline. but again, it is a contingency plan right now. from a very rainy maryland, of course we're expecting the higher winds later today, but the rain which has been falling since about -- well, early this morning, continues fo
't the only ones keeping an eye on the hurricane. the latest on what's at strike for energy, refineries and gas prices. one more look at equity index futures which just closed at this very second. you have made your bets. back in a moment. don't go away. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. we call this our mission.mpany, green toys teaches children that if i have a milk jug and i stick it in the recycling bin it can turn into something new. chase allows us to buy capital equipment to be able to manufacture in the states to the scale we need to be a global company. with a little luck green toys could be the next great american brand. find what's next for your business at >>> new jersey under a state of emergency ahead of hurricane sandy's arrival. k
, the overweight banks energy real estate as well as information technology, they're pounding the tables here, but the question is, do better economic numbers mean that investors can go in and invest? >> i think that the classic ones, joy global, i think does make sense, i like the upgrade this morning. the caterpillar deeply inclined. china not coming back, maybe they're so concerned about caterpillar that they're saying it's not coming back that fast. >> we got adp stateside, jim, as well as the estimate. a big revision, they change d d. >> i thought the paychecks were two that really looked like numbers. and so i'm willing to say that this -- it makes so much more sense, but i keep trying to say what industry is doing the hiring in terms of construction. bigger size, small business, but construction yes, balanced against what i regard seeing is uncertainty in the banking industry, where they lay off, government sees more- >> we have ceos sit over here, what you're going to do with the money, or how many people you're going to hire, it's not tens of thousands, but it's something. and they'r
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. and then there is peabody energy. it was recommended to buy coal stocks aggressively because of the chart. i have been and remain conservative. it could be crushed by president obama. china is the growth market for peabody. big coal company. closed $29.28. it's been a remarkable run. the weirdest rally is tech. we have seen so many disappointments in tech, we forget how much of tech goes into china. huge market. so let's just say it was enough to reverse the trend of all of those stocks. they moved higher. it was as if they reported better, not worse than expected earnings. china provided the change at the margin to make this rally happen. china, not the u.s., which everyone knows is okay, and europe is getting much worse. when you get a number that breaks the fall of a huge economy like the one we got from china i i read about in zucotti park this morning, it spells growth. that's what we got. in return, so many of the industrial and tech stocks that had looked like ugly ducklings turned into beautiful swans -- white ones at that. i don't expect them to revert to their hideous stature. the first in a
average down 140 points today. volume not bad. nasdaq composite also weak, down 38 points. it was energy, technology, materials. the s&p 500 down 13.3 points. that was the leadership group. the market ending a shortened week. let's bring in our guests for their take on what went on. with us now, chip dixon, jeff cox, and rick santelli. nice to have you on the program. thanks for joining us. chip, let me begin with you. haven't see you in a little bit. we used to talk long ago when you were at a different firm. welcome back to cnbc. >> thank you. >> you are the director of research discern. what is your research telling you here about where we are in this market and in this cycle for the economy? >> well, it tell us that the housing sector is improving and the residential side. commercial permit activity, which we see, has gone up, it's kind of plateauing. it tells us we're dealing with a lot of uncertainty out there. there's a tremendous amount of pent-up capacity in corporate america if we can just get the right fiscal policies in place. this economy could do well. >> do you think thing
electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. >>> welcome back to "the kudlow report." i'm larry kudlow. in this half hour as the east coast rebuilds from the devastation of hurricane sandy, bigger government is not necessarily better government when it comes to helping states come out of natural disasters. also tonight, you saw it today. investors are clearly influenced by tuesday's election. the dow is down 140 points. we talked election markets. mediocre jobs report out today inch inches unemployment rate up to 7.9. still far from full employment. so far from full employment. who's to blame for not getting it exactly to full employment? well, here now is robert reich, former labor secretary and cnbc contributor. and he's the author of "beyond outrage." we also welcome back casey mulligan, professor of economics at the university of chicago and author
the runners so we hope that this year should be the same good fiber and good energy, everything perfect. >> it wouldn't surprise me if there was a lot of that happening. they probably feel that the resources should be directed elsewhere. >> reporter: listen, it's business as usual for the runners, especially those who came from outside of this country. overall the race is not business as usual and a lot of people think the mayor's office really pushed for this because there's about $340 million in economic impact here and thousands of people had already arrived in the city to run this race. back to you. >> thank you, brian. >>> in fact,, the website asking if you think the new york city marathon should run on. the results of their poll coming up. >>> now to scott wapner with a "market flash" today. >> watching sharls es of penske. stronger than expected quarterly profit. shares are down 8% though, reason being -- gross margins were lower than expected and also vehicle pricing disappointed. when you read a little bit deeper in the earnings report, you find out some thin
energy. remember, we talked to the ceo, aubrey mcclenden at the utica shale in ohio? i am a judge of mr. mcclenden. the most confidence i heard him in multiple years. why? they have raised enough cash, and it can grow production by almost 20%. the newer conservative chesapeake. i think there will be more deals to announce to come in this quarter. i would be a buyer of kellogg on wednesday, but also of chesapeake on wednesday. i think those trades will work. friday morning, jim beam, beef. and our favorite is biago. and i care more about what beam has to say about the industry growth. beam says there is no slowdown, pick up biago, take some. last, but not least. chevron. this company preannounced numbers that nobody is too crazy, but they are far too often undervalued. if it's down going into the quarter and oil is strong the day before or we get a tight inventory number wednesday, pick up chevron. there might be a deep in the money call option. beyond earnings on friday, oh, boy, here is controversy. october nonfarm payroll report, remember, the thing under 8%, big hooplah. don't known
cliff stock if there ever were one. then chesapeake energy. remember, we talked to the ceo, aubrey mcclenden at the utica shale in ohio? i am a judge of mr. mcclenden. the most confident i heard him in multiple years. why? they have raised enough cash, and it can grow production by almost 20%. the newer conservative chesapeake. i think there will be more deals to announce to come in this quarter. i would be a buyer of kellogg on wednesday, but also of chesapeake on wednesday. i think those trades will work. friday morning, jim beam, beef. and our favorite is biago. and i care more about what beam has to say about the industry growth. beam says there is no slowdown, pick up biago, take some. last, but not least. chevron. this company preannounced numbers that nobody is too crazy, but they are far too often undervalued. if it's down going into the quarter and oil is strong the day before or we get a tight inventory number wednesday, pick up chevron. there might be a deep in the money call option. beyond earnings on friday, oh, boy, here is controversy. october nonfarm payroll report, re
it is for the entire interesting. if you look at energy prices, it's 30% to 35%, and when you see a 10% to 15% move down, that goes directly to the bottom line. we're hoping we see more of that. >>> still aiming for an ipo in a year? 18 months? >> yeah, i think a lot of it depends on the economy, you know, which has some uncertainty right now with energy prices, but we're quite optimistic about the energy strength. i think the fundamentals are as good as they have ever been and we're optimistic about the future. >> david, thank you very much for sparing the time. >> thanks, simon. >>> be well. >>> meantime, a large section of newark had its power restored last night. mayor cory booker has spent much of the last few days driving around respect reporting to emergency crews and communicating via twitter. mr. mayor, great to talk with you. thank you for taking time. >> my pleasure, and i appreciate the attention you're giving to the crisis. the media really helps. >> so much of the pictures today are looking at tom's river or breezy point or hoboken, but specifically in newark, what is the situation? >
are kept small. that's what's made a lot of them successful. some other ones over there, south cross energy priced at $20. that's $21 to $23. i can't quite see the other one but that price at the high end, $21 and that looks above as well. so we have three ipos, two of them are energy. all of them are looking pretty good. $31.50 for restoration hardware. once you start narrowing the range, that means it's getting closer to open. this would be a fan ttastic ope given what's been going on this week and a great time -- a great time for a company like restoration hardware and a name like that to go public. right back to you. >> okay. we should point out starbucks was up sharply this morning. the stock up over 8% -- excuse me, over 9% on fourth quarter numbers that were better than had been anticipated. they had $3.4 billion in total revenue, up 11%. that's the largest amount, a record for starbucks. they were able to drive traffic growth up by 5% in the americas as well as 5% globally. very interesting to see there. >> points out margins on an operating basis different than a apple retail store
. elliott, let me kick this off with you and the energy market moves, gasoline on the move today. how was business after the two-day shutdown? >> it was a little choppy today. we saw unleaded gas rally strongly this morning. i think people are keeping an eye on what happens with the bayway refinery in new jersey. the news initially was it won't get started back up for the next week or two and there was some hope it might start up sooner and the markets hailed off towards the end of the day. >> the bottom line is people cannot get gasoline all over new jersey, right? i was talking to someone earlier who was saying that the gas guys in one station they were taking advantage and changing the price all over the place. what is this doing to the market? >> well the real problem in new jersey is that there's no electricity so the gas pumps, they could have all the gasoline in the world in the tanks but if they can't get it out of the ground it's not doing anybody any good. it's really a big mess out there. they need utilities to combine with the locals to turn off electricity to clear the tr
to bill in missouri. bill. >> caller: hey, jim, how you doing? i called to ask about clean energy, clne. >> got downgraded today. made a lot of sense because westport announced bad numbers during this break. what happened? they're saying that there's not enough of a quick buildout of lng gas stations. you can't own these because they're not getting the support of the car makers or enough truck buying. they're good specs and that's it. how about silvia in florida. >> caller: hi, jim. boo-yah from boca. i want to know that i'm a longtime fan, and i first saw you on tv when you were with larry kudlow. i love your high energy. >> thank you. >> caller: your sincerity and your wealth of knowledge. my stock is f-5 networks. it's gone down 20% since i bought it. should i hold it or sell? >> no, no, it's a slow-down. i do not want you in at five. it's just not working. that is the conclusion of the "lightning round"! >> the "lightning round" is sponsored by td ameritrade. coming up, silly rabbit. organic food maker annie's has been hopping since its ipo earlier this year. is the stock better lef
or months? what's the short term outlook and what about longer term, in terms of pricing on energy? you think this is weeks or months or what? >> we think that the nation has a great infrastructure. we think we have a great supply of crude and refined products. the terminals -- the epa waived the need to put ethanol in the gasoline at the terminal. the ability to get the terminal back up, assuming the pumps aren't too badly damaged, is measured in a few hours or days. if the pumps are so badly damaged and the transfer facilities, then this could be days or weeks. from a price point of view, i think locally it may have some impact, but across the nation, you know, the northeast consumes about 30% of the total u.s. demand for gasoline. you know, that demand is way down since there's not as many people driving. i think the impact on the nation's gas price is minimal. >> all right. >> mr. foutch, thanks for joining us today. appreciate it very much. >> thank you. >>> the latest pictures from downtown new york still pretty ugly. take a look at this picture i took on my way down here today. t
. >>> plus, sandy causing a gasoline crisis in new york and new jersey. i'll be talking with an energy specialist about what's behind the long lining and when we may finally be able to fill up our tanks again. back in a moment. >>> welcome back. starbucks reporting earnings just moments ago. the company reporting eps results of 46 cents a share. that was a penny above expectations. revenue at $3.36 billion, which was slightly lower than the $3.8 billion analysts were looking for. we find out how they got there and what to expect in the month ahead right now with the boss joining me now from a seattle starbucks location. it's the company chairman and ceo howard schultz. good to have you on the program. welcome back. >> thank you, maria. how are you? >> you raised your dividend. you raised your guidance. characterize the quarter for us. >> as you can see, we had a record quarter, record year, highlighted by the u.s. business at 7% comps, 10% comps in asia. we're starting to see a slight improvement -- i don't want to overstate that -- in western europe and our cpg business grew over 15%
for a second day today. still electronic trading of stock futures and options, energy and metals contracts. the last time the new york stock exchange was closed for more than two days straight because of weather was 1888. three of six key refineries shut down. ports were closed. analys analysts estimate sandy could cause 5 to $6 billion of losses. that would make it the fifth costliest storm in u.s. history. there could be more wind and flood damage than hurricane irene. new york city and especially lower manhattan saw it share monday. joining us on set a charles nenner founder and head of research. thanks very much for stopping by. >> you're welcome. from i just want to ask you off the bat about hurricane sandy if there is a broad impact on the u.s. that you expect. >> i want to mention two things. the crash in '87 started in europe. the crash in 9/11 started before terrorists attacked new york. so i forecast markets. so whatever happened here already is already in the price of all the markets, so it won't have much of an effect. >> the philosophy of market forecasting, nobody ever does t
gartman will talk energy and commodity trading. >> lots of damage to report in the new york city area, more than 50 homes were destroyed by fire last night in breezy point queens. just east of cone any islands, more than 170 firefighters were on the scene. and separately more than 200 patients were evacuated last night from new york university's medical center after power went out. patients some on respirators operating on battery power were taken to other hospitals. and check this video out. a crane on this luxury high rise building, that's under construction, topping over on 57th street, the 90 story building looks over central park. luxury apartments telling for tens of millions of dollars. the crane could be seen blowing in the wind for most of the night and officials there trying to figure out how to get that down eventually. >> to find out how much rain and wind sandy will be packing and where it's heading next, jen carfagno has the forecast. >> between morning. so we are still dealing with central winds of 65 miles an hour with the super storm sandy. the pressure is coming up a
about gasoline, it seems to have already moved slightly. anything on the energy side? >> i think if you go back to the past oil flash gasoline spikes really from storms, you really need a storm like katrina and something larger scale to really get more of a sustained follow-through over the next coming weeks. if you go back to past moves in gasoline futures, they're very short-lived trades and a lot of them already happen before the actual storm hits in anticipation of it. so it's a tricky trade. >> michael, thanks for that. michael purves joining us this morning. let's remind you where we stand. >> talking about markets and positioning when you have a storm this big and with the people who are affected by it. the dow jones industrial average is trying to add about 70 points at the open. stocks are pointing significantly higher. >> they are up again this morning. the ftse is flat. but we're up about 1.5% for the german and french markets. that's where we stand ahead of the u.s. open and ahead of "squawk box." >> thanks for joining us. see you back here tomorrow. >>> good morning. wall s
for affordable energy. john this is a shocking situation if you're not in the middle of it, haven't been in the situation where you don't have enough gas to get to work you don't realize how bad things are. how long do you think this continues and what exactly is happening? >> becky it happens after every hurricane whether on the gulf coast, florida and unfortunately in the metropolitan area in new york. the supply siders are doing everything they know how to do. so you broaden utility crews from across the country, trying to get electricity restored, the oil companies are doing everything they can do within the limits of safety, and regulation to get supply out to the public. we also have to do something different on the demand management side. what's happening is that the demand side is descending into chaos and you see it in the gas lines. this could get to gunfire if it continues in the way it's going now. my recommendation is for the governors of new jersey, new york and connecticut, come together, go to an odd/even rationing plan, cut the demand in half every day by going to odd/ev
watching is the energy prices. with all these big closures of all these refineries on the east coast, it's not a surprise you'll see crude a little lower and also unleaded gasoline higher. what i like to do on days like today is i like to go out in markets and say, this is what should be happening. this is not what's happening. look at the crude and what happened to the crude spreads today. in theory, if end users don't want crude on the spot market right now, they would pay to store it. in theory you should have seen futures in the back months being bid up. we didn't see that today. you saw some strength in the forward spreads. that really caught my eye. am i all that interested in being short crude in the mid-80s after this market was just at 102? no way. not inttd at all. >> how liquid is the market right now, tres? >> i would say the market's as liquid as any other day because the majority of that market is traded electronically. i've been trading crude all morning and i haven't noticed any sort of drop in liquidity. >> but you would thinks given the potential upset to crude supplies
the energy, the muscle, if you will, to do many of these operations. they put themselves in harm's way. we thanked them very much. this storm is basically as expected thus far. we said it was going to be a lot of wind and rain. that's what they forecast and that's exactly what we've gotten and more. sandy's fury is still going to come this evening. originally it was supposed to be about 8:00. that has now been moved up and could be as early as 6:00. where we're we'll start to feel the full impact of high tide. that gives people a short window. people have not yet evacuated. they should have already, in my opinion, but that's a -- it's a very short window until we really feel the full impact of sandy's fury. this is probably the last warning that we're going to be able to give people about getting themselves to a safe place before that coastal surge really hits. of the national guard, the 1,000 that are going to be deployed today, the majority of those national guard will be deployed on long island. as the issue becomes more and more the coastal surge, long island becomes more and more vuln
and training a national priority; building on our manufacturing boom; boosting american-made energy; reducing the deficits responsibly by cutting where... we can, and asking the wealthy to pay a little more. and ending the war in afghanistan, so we can... do some nation-building here at home. that's the right path. so read my plan, compare it to governor romney's... and decide which is better for you. it's an honor to be your president... and i'm asking for your vote... so together, we can keep moving america forward. i'm barack obama and i approve this message. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. >> it's time for "the lightning round." you'll hear this sound and that means the lightning round is over. stu in virginia. >> caller: boo-yeah from virginia. i'm a fisherman and i want t
licy environment, energy and the like. so the world's a risky place and this is a time of heightened uncertainty. now we talk to clients, we do surveys and our own analysts and they say the material drag on demand looking forward already this year. we think that's why we're a little bit below trend in overall demand growth. and the reality is, any way you slice it there will be some fiscal consolidation in the first half of next year. >> i think it is critical that you get business back on-board. one of the interesting things has been the consumer seems to be holding in there the retail sales numbers have been a lit better, consumer sentiment numbers have been a little better. business equipment and spending numbers haven't. if you can get both those cylinders firing, you could start inching away at the unemployment rate. >> vince, is your baseline hypothesis that something gets done either right before the close of the year or right after the start of the year, no matter who wins, to sort of ameeliorat the situation? >> politicians always do something at the last minute. the problem
on the refineries. news from philadelphia energy solutions, a big refinery in philadelphia, saying that it didn't sustain any damage and that it is going to start increasing its run rate. others that reduced its run rate to facilities, no word yet. i've reached out to them. others are getting restarted and increase their run rates. as we know right now two other facilities, one in bay way which is run by phillips and another by hess do remain closed in the wake of this. this i critical pipeline that comes up from greensboro, north carolina, to the eastern seaboard delivering fuel there. it was shut down last night because its customers could not take any delivery of fall. it did experience a power outage. generators are being september up there. they continue to assess the situation, but the pipeline does remain shut down. not so much because of sandy but some of their customers, i.e. the terminals, are not taking any delivery of fuel because of the storm. back to you. >> thank you very much, mary. let's get an update now on the path of the storm. wnbc joins us live. over to you, lori. >> repor
it around. we'll see when that meeting gets back on the calendar. we won't be getting the energy department's usual look at oil and gasoline inventories normally released at wednesday 10:30 a.m. eastern. if you're looking for an early winner on wall street today, check out shares of generac holdings. i think both of these folks have generac. >> we do. >> let's get to phil lebeau with earnings on gm. >> hi, andrew. we do have general motors, it is far better than expected than the third quarter. the estimate on the street was for 60 cents a share. it worked out to about $1.5 billion, revenue almost $2 billion better than expected. couple of numbers to keep an eye on. europe, gm losing $500 million in the third quarter, now expecting to lose between $1.5 billion and $1.8 billion. we're going to hop on the gm conference call in a few minutes to see if they have any more clarity in terms of restructuring. and don't forget, we've have the cfo joining us in about 15 minutes. but again, earning 85 cents a share in the third quarter. >> and phil, we can see in the premarket that stock's up by about
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